Jump to content


Photo

Bulls, Is that it? Come on, BLACK MONDAY


This topic has been archived. This means that you cannot reply to this topic.
267 replies to this topic

#16 Pretzel Logic

Pretzel Logic

    Doctor of Stock Proctology

  • Members
  • PipPipPipPip
  • 2,387 posts

Posted 20 February 2009 - 06:35 PM

The SPX found support at 770 as expected...I'm expecting a counter trend move of short duration Monday..maybe into Tuesday...Butt, I do expect the rug to be pulled next week. :ph34r:


I agree. 800-815 is my rally target... with a very slim outside chance at 825ish.
In honor of the times, back to the 2008 signature:

"When Black Friday comes, I'll stand down by the door,
And catch the grey men when they dive from the fourteenth floor,
When Black Friday comes, I'll collect everything I'm owed,
And before my friends find out I'll be on the road,
When Black Friday falls
you know it's got to be...
Don't let it fall on me." - Steely Dan, Black Friday

#17 sarcastro

sarcastro

    Stock Proctology Intern

  • Members
  • Pip
  • 264 posts

Posted 20 February 2009 - 07:06 PM

anyone have opinions on HTE? I've been buying all the way down, and have continued to do so- can't resist that dividend return!

#18 drwells

drwells

    Stock Proctology Intern

  • Members
  • Pip
  • 184 posts

Posted 20 February 2009 - 07:42 PM

http://news.ino.com/...=68967072846901

'(AP:CHARLOTTE, N.C.) Bank stocks took another pounding Friday as fears of nationalizing the U.S. bank system, especially for Bank of America Corp. and Citigroup Inc., continued to circulate even as the head of one of the banks said he sees no reason his company should have to be taken under government control.

...

Bank of America CEO Ken Lewis issued a statement saying: "We see no reason why a company that is profitable with strong levels of capital and liquidity and that continues to lend actively should be considered for nationalization."

Lewis said the speculation was based on "a lack of understanding of our bank's financial position as well as a lack of appreciation for the adverse ramifications for our customers and the economy."

The rumors prompted other outcry from the banking industry. Diane Casey-Landry, chief operating officer of the American Bankers Association said the trade group does not believe nationalization is a solution.

"The talk of nationalization is both harmful to the markets and harmful to the system," Casey-Landry said.

...

BofA's Lewis, in a memo to employees on the posted on the company's internal Web site, wrote: "Bank of America does not need any further assistance today, and I am confident we will not need any further assistance in the future."'

You know, this all sounds vaguely familiar.

2/28/07: "fremont is fine. they still have an agressive buydown, good rates, etc. all the rumor mill morons can suck it." (http://forum.brokero...rum/2/98146.htm)

3/2/07: "I JUST HAD A DISCUSSION WITH A FRIEND THAT HAD 2 REPS COME TO HIM FOR A JOB BECUASE THEY GOT WORD THAT THEIR COMPANY FREEMONT WAS SHUTTING THEIR DOORS AT THE END OF NEXT WEEK." (http://forum.brokero...113&whichpage=1)

Replies:

"Oh no, the friend of the friend of the rep!"

"I don't think so - they just came out with several new programs. They wouldn't do that if they were closing. Probably some hacks who couldn't cut it!"

"I heard the Internet is shutting its doors! Has anybody else heard that? My buddy said he heard it from his buddies girlfriend's sister in law, who said she heard it from her brother. Let me know asap! My badge looks sick! Thanks Big D!"

"I have a friend (not a friend of a friend of friend) that interviewed with them and is starting next month."

"this guy is on like 3 or 4 other posts spreading the most ridiculous rumors"

"You may get the feeling that real mortgage brokers have learned not to call a dead body a dead body until it is dead. Please take your stupid guru stuff elsewhere."

"Some folks get a rush out of regurgitating news. It makes them feel important."

"and I think Britney Spears will make it in rehab this time"

"There's no way I am going to give any insight on Fremont's financial position (the little bit that I do know about it) as I am looking to keep my job. But I will agree to what Craig mentioned. Our mgmt has always been very open about any negative changes or results we have had. That's the one thing we can usually rely on."

3/2/07: Faced with a likely cease-and-desist from the FDIC, Fremont capitulated and shut down its residential real estate lending. All that will remain is its industrial bank subsidiary (named "Fremont Investment & Loan"). Commercial lending operations will continue. Fremont has enlisted Credit Suisse to help sell off what it can, if it can. (http://ml-implode.com/)

3/4/07: Fremont shut down by the FDIC. (http://ml-implode.com/)

#19 curious

curious

    Stock Proctology Intern

  • Members
  • Pip
  • 90 posts

Posted 20 February 2009 - 07:42 PM

anyone have opinions on HTE? I've been buying all the way down, and have continued to do so- can't resist that dividend return!


Yea I am holding few of these energy bags too. Including HTE. It all depends on where the energy price will be. If it won't recover to 50-60$ oil equiv by summer the dividents will be gone IMHO. And I give a 51% probability that it will recover :)

#20 mdporter

mdporter

    Associate Professor of Stock Proctology

  • Members
  • PipPipPipPipPipPip
  • 4,191 posts

Posted 20 February 2009 - 07:49 PM

anyone have opinions on HTE? I've been buying all the way down, and have continued to do so- can't resist that dividend return!


All of the royalty trusts have been getting SMOKED. The dividend may not be safe. AAV's divi has been cut several times. HTE is around 45%. No way that continues. I checked a chart going back ten years and didn't see any support for HTE. Does anyone have a chart that goes back farther?
The men the American people admire most extravagantly are the most daring liars, the men they detest most violently are those who try to tell them the truth. -- H.L. Mencken

"Only a man who knows what it is like to be defeated can ... come up with the extra ounce of power it takes to win." - Muhammad Ali

"When plunder has become a way of life for a group of men living together in society, they create for themselves in the course of time a legal system that authorizes it and a moral code that glorifies it." -- Claude Frédéric Bastiat

#21 DrStool

DrStool

    Chief of Stock Proctology

  • Admin
  • PipPipPipPipPipPipPipPipPip
  • 83,448 posts

Posted 20 February 2009 - 07:50 PM

http://wallstreetexa...sional-edition/

If your portfolio has you feeling irregular, for fast, long lasting relief, take a subscribatory. And support your local Stool!

#22 Trader Joe

Trader Joe

    Phd, Douchebagology

  • Members
  • PipPipPipPipPipPipPipPipPip
  • 13,570 posts

Posted 20 February 2009 - 07:54 PM

BAC gettin' lot's of love in the after-life

#23 DrStool

DrStool

    Chief of Stock Proctology

  • Admin
  • PipPipPipPipPipPipPipPipPip
  • 83,448 posts

Posted 20 February 2009 - 07:54 PM

Doc, you note TBAC's quarterly supply estimate of $586B. My mind spins. Just sort of a dumb question, whose answer I am sure I know, but it's this.

Are you sure it represents "new" supply?

Do you know - approximately - what this would be on top of?


See for yourself. And they've been consistently behind the curve!

Anybody who isn't scared is...

Attached Files



If your portfolio has you feeling irregular, for fast, long lasting relief, take a subscribatory. And support your local Stool!

#24 Trader Joe

Trader Joe

    Phd, Douchebagology

  • Members
  • PipPipPipPipPipPipPipPipPip
  • 13,570 posts

Posted 20 February 2009 - 08:06 PM

So does anyone have a guesstimate as to when they shut down CNBS......?

They have to be the cause of at least 50% or more of the market intra-day volatility.

This crap ain't gonna last.....I don't think Yomama & Co. want to be fielding frantic phone calls all day about the dopey stock market.

Seems to me that they have more pressing things to do.....read: putting out all the flaming bags of dog scat that were left hidden around the White House.

#25 Trader Joe

Trader Joe

    Phd, Douchebagology

  • Members
  • PipPipPipPipPipPipPipPipPip
  • 13,570 posts

Posted 20 February 2009 - 08:08 PM

Santelli going ape sh^t on Krudlow's show.....

Just tossed his print out of the Homeowner bailout act into the air...

Housing Bailout Examples....what a crock

Housing Plan Fact Sheet Q&A

Trader Joe Predict-O-Ball ™

The number of folks that will qualify for this stoopid f^^king program is going to be ASTONISHINGLY LOW.....a complete embarassment....and my guess, based on what we have seen to date, the first of many.....
_________________________

"Hey Honey.....you know that job you were gonna quit in June.....quit now so we can get the govi refi.....then go back to work after we get the new rate locked in.......meanwhile we can sip ice tea on the front porch while those idiots accross the street struggle to do the right thing and pay on their current mortgage.....IDIOTS.....told them they should have only put 5% dow....BWAHAHAHA"

#26 mdporter

mdporter

    Associate Professor of Stock Proctology

  • Members
  • PipPipPipPipPipPip
  • 4,191 posts

Posted 20 February 2009 - 08:15 PM

From the crew that runs my workplace:

FOSTER CITY, Calif.--(BUSINESS WIRE)--Electronics For Imaging, Inc. (Nasdaq:EFII), the world leader in customer-focused digital printing, announced today that its Board of Directors has approved a $100 million share repurchase program, including a $30 million accelerated share repurchase (the ASR), utilizing a portion of proceeds from the recently announced sale of the Companys real estate in Foster City.

The new share repurchase authorization replaces the previously approved share repurchase program, including a remaining amount of approximately $33 million that was available for repurchases under such program.

The Company also announced that it entered into an agreement (the ASR Agreement) with UBS AG, London Branch (UBS) to repurchase $30 million of its common stock under the ASR. The final number of shares to be repurchased under the ASR will be determined based on market prices of the Companys common stock during the term of the ASR Agreement. As a result of entering into the ASR, the Company expects that, during the term of the ASR, UBS will be purchasing the Companys common stock in the market. The Company expects to complete the repurchases under the ASR in the second or third quarter of 2009, with the final completion date subject to the discretion of UBS. The repurchased shares will be held as treasury stock.

We are very pleased to deliver on our commitment to monetize our real estate assets, which was a key element of our strategy to restore shareholder value, said Guy Gecht, CEO of EFI. With the real estate deal completed we are moving forward in returning cash to our shareholders with this new share repurchase program.


How does a share buyback "return cash" to shareholders, unless it is a rescue for institutional bagholders?

The real estate sale was a good one, $137 million. Unfortunately $100 million will be wasted on the share buyback. Many employees asked why in these difficult economic times so much money would be spent on share buybacks. Answers were not to anyone's liking.

Depending on the stock price in the buyback period this could represent perhaps 15 to 25% of the total float.

The whole restoring value to shareholders thing is kinda of weird. The real estate sale was a one trick pony, unless the HQ building is sold too. What happens if the stock tanks with the rest of the market? Oops, doesn't seem like that was thought about too hard.
The men the American people admire most extravagantly are the most daring liars, the men they detest most violently are those who try to tell them the truth. -- H.L. Mencken

"Only a man who knows what it is like to be defeated can ... come up with the extra ounce of power it takes to win." - Muhammad Ali

"When plunder has become a way of life for a group of men living together in society, they create for themselves in the course of time a legal system that authorizes it and a moral code that glorifies it." -- Claude Frédéric Bastiat

#27 drwells

drwells

    Stock Proctology Intern

  • Members
  • Pip
  • 184 posts

Posted 20 February 2009 - 08:22 PM

http://wallstreetexa...sional-edition/


That answers my question from the other day. Tanks Doc!

#28 Jorma

Jorma

    Associate Professor of Stock Proctology

  • Members
  • PipPipPipPipPipPip
  • 4,396 posts

Posted 20 February 2009 - 08:51 PM

Here is transcript of Sentelli's rant about TALF.

http://downlode.org/...blank_page.html

War is the last great hope of the incompetent to order the unwilling to attempt the impossible.
William Eastlake 'The Bamboo Bed'

Change you can suspend your disbelief in.
Fafblog

 

The Treasury

could burn down

We jammin still

Full Extreme   Ultimate Rejects


#29 capitall

capitall

    Associate Professor of Stock Proctology

  • Members
  • PipPipPipPipPipPip
  • 4,315 posts

Posted 20 February 2009 - 08:55 PM

http://news.ino.com/...=68967072846901

'(AP:CHARLOTTE, N.C.) Bank stocks took another pounding Friday as fears of nationalizing the U.S. bank system, especially for Bank of America Corp. and Citigroup Inc., continued to circulate even as the head of one of the banks said he sees no reason his company should have to be taken under government control.

...

Bank of America CEO Ken Lewis issued a statement saying: "We see no reason why a company that is profitable with strong levels of capital and liquidity and that continues to lend actively should be considered for nationalization."

Lewis said the speculation was based on "a lack of understanding of our bank's financial position as well as a lack of appreciation for the adverse ramifications for our customers and the economy."


He's being politically correct here. If he were honest, he'd say "This speculation about BAC getting nationalized is based on some big investment bank wanting to short huge blocks of BAC high, and cover the shares low, just before I respond to these rumors. Rumors floating around during the week of options expiration are almost always based on this type of maneuver."

Not to say that BAC will not get nationalized eventually.

Congrats, Trader Joe, on figuring out the Pig Men game plan here.

#30 capitall

capitall

    Associate Professor of Stock Proctology

  • Members
  • PipPipPipPipPipPip
  • 4,315 posts

Posted 20 February 2009 - 08:58 PM

So does anyone have a guesstimate as to when they shut down CNBS......?

They have to be the cause of at least 50% or more of the market intra-day volatility.

This crap ain't gonna last.....I don't think Yomama & Co. want to be fielding frantic phone calls all day about the dopey stock market.

Seems to me that they have more pressing things to do.....read: putting out all the flaming bags of dog scat that were left hidden around the White House.


Well, Obama & Co. need to sell a lot of Trashuries. Maybe CNBS is helping them do that. The more volatile and crazy the stock market is, the more people will flee to Trashuries.





Stock market portfolio giving you the runs? See Dr. Stool.

Take a subscribatory!
Download 
The Anals of Stock Proctology now!



The Daily Stool - Stock Market Message Board
Stool's Gold- Gold and Precious Metals Forum
Look Out Below Message Board

Support your local Stool Board.


The Al E. Greenspeuman designer line at Stoolmart. Get yours today! Click here now!
Get Mugged!


Dr. Stool's
Book Search

Enter title, author, or keyword
Just books
All Products





Old Stool Depository

Live Steaming Pile Chart